Academic journal article ABA Banking Journal

Money 97 Offers Greater Connectivity

Academic journal article ABA Banking Journal

Money 97 Offers Greater Connectivity

Article excerpt

With the release of Money 97, Microsoft is attempting to extend connectivity options through which banks can offer on-line banking, as well as enable bill-payment processors to provide services.

Financial institutions have a choice of ways to connect to Microsoft Money-- Open Financial Connectivity (OFC), Visa Interactive, or Intuit Services Corp. (ISC). According to Microsoft, by making connections easier and more open for banks, Money offers more bank connections than other personal finance software. For banks, the benefit is that they can select the connectivity solution best suited to their needs. For consumers, the benefit is that it is much more likely their bank will be online. So far about 58 financial institutions have announced that they plan to offer their customers online banking services via Money 97.

Another new feature is the Online Services Setup Wizard, which walks the user through the whole setup process. By entering their bank's identification humber, users can tell which online services are available from their bank, how to get signed up, and the cost of the services. …

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